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Airboss Of Ameri (ABSSF) delivers precision-engineered solutions for aerospace and industrial sectors through innovative manufacturing and transparent reporting. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and market positioning.
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Key updates include financial results using non-IFRS adjusted profit measures, technology advancements in component manufacturing, and supply chain developments. Bookmark this page for direct access to primary source materials and professionally summarized analyses.
AirBoss of America Corp. (TSX: BOS) (OTCQX:ABSSF) has announced that its subsidiary, AirBoss Defense Group (ADG), has been awarded a contract worth up to US$84 million by the U.S. Department of Health and Human Services for the supply of protective isolation gowns. The contract includes a funded base of US$59 million and an unfunded option of up to US$25 million.
Deliveries are expected to start in Q4 2024 and continue through 2026. The gowns will supply the U.S. Strategic National Stockpile for use during public health emergencies. This contract builds on ADG's history of providing protective equipment to the U.S. government, including previous deliveries of PAPR systems, filters, gloves, and COVID test kits.
AirBoss of America Corp. (TSX: BOS, OTCQX: ABSSF) announced its Q2 2024 results, showing a 16.4% decrease in net sales compared to Q2 2023, mainly due to lower sales and volumes in its AMP and ARS segments.
Net loss increased to $9.57 million from $2.61 million in Q2 2023, with gross profit down by $9.12 million, impacted by a $6.05 million inventory write-down of nitrile gloves and medical gowns.
Adjusted EBITDA for Q2 2024 rose by 17.5% year-over-year but fell by 32.9% year-to-date.
Net debt rose to $92.56 million from $88.21 million as of December 2023. The Board declared a quarterly dividend of C$0.035 per share.
Key highlights include the commencement of shipments under a $45 million defense contract, court approval of a class action lawsuit settlement, and the strategic review by TD Securities to explore value creation alternatives.
Despite economic headwinds, AirBoss is focused on operational execution, cost management, and strategic transitions to drive long-term shareholder value. A conference call will be held on August 14, 2024, to discuss these results.
AirBoss of America Corp. (TSX: BOS) (OTCQX: ABSSF) has announced the release of its second quarter 2024 financial results on August 13, 2024, after market close. A conference call to discuss the results is scheduled for August 14, 2024, at 9:00 am ET. Investors can join via dial-in (1-844-763-8274 or 647-484-8814) or webcast. AirBoss, founded in 1989, is a diversified company operating through two divisions: AirBoss Rubber Solutions, a North American custom rubber compounder, and AirBoss Manufactured Products, supplying anti-vibration and rubber-molded solutions to various sectors, including automotive and defense.
AirBoss of America Corp. (TSX: BOS) (OTCQX: ABSSF) has announced a strategic transition, focusing on its core rubber compounding capabilities and growth opportunities. The company has realigned into two segments: AirBoss Rubber Solutions and AirBoss Manufactured Products.
To assist in this transition, AirBoss has engaged TD Securities Inc. as a financial advisor to explore various strategic alternatives, including acquisitions, divestitures, and financing options, as well as the potential monetization of real estate assets.
While no specific outcomes or timelines are assured, Chairman and Co-CEO Gren Schoch emphasized the commitment to exploring all options to enhance shareholder value and transform AirBoss into a global leader in custom rubber compounding and related industries.
AirBoss of America Corp. announced the results of its Annual General Meeting where directors were elected and auditors appointed. The Company's diversified operations focus on developing survivability solutions, rubber compounds, and finished products for challenging environments.
AirBoss of America Corp. reported its first quarter 2024 results, highlighting a contract award, reduction in borrowings, settlement of a lawsuit, credit facility amendments, and dividend declaration. The Company saw decreased net sales and gross profit, with a focus on operational execution and aggressive deleveraging. Strategic transitions and long-term priorities were emphasized, alongside detailed financial data.
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